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Cinven, Carlyle, Altice-backed Numericable could be worth €5.57bn in IPO

28 Oct 2013

telecoms5sq_lrgPrivate equity-backed French cable operator Numericable could be worth more than €5.57bn if it hits the top-end of the range selling a quarter of the business in its upcoming IPO.

The company, which is backed by Cinven, Carlyle and Altice, plans to sell its shares for between €20.30 and €24.80 each in a November listing, Reuters reported.

Numericable, which offers packages for pay-TV, internet and land-line calls, told investors in expected to grow at between two and five per cent each year to 2016.

The IPO includes €250m in new shares and €420m in existing stakes sold by Carlyle and Cinven, with an overallotment option of 15 per cent of the offering.

Carlyle, Cinven and Altice, which bought the business in 2006, hired Rothschild in June to prepare for Numericable’s IPO on the Paris stock exchange.

Cinven is thought to be looking to fully exit its stake through the IPO, while Carlyle and Altice are expected to keep a holding in the business.

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